Scotiabank Issues Pessimistic Outlook for AG Earnings

Key Points

• Scotiabank cut its FY2026 EPS forecast for First Majestic Silver to $0.65 from $0.69, below the $0.80 consensus estimate; it projects FY2027 EPS of $0.87.
• The company reported quarterly EPS of $0.19, matching consensus, while revenue of $394.1 million exceeded analysts’ $390 million estimate.
• First Majestic’s quarterly dividend fell to $0.0142 per share from $0.0152. Shares opened at $14.01, and analysts’ consensus rating was Hold with an average price target of $23.75.

First Majestic Silver Corp. (NYSE:AG - Free Report) TSE: FR - Research analysts at Scotiabank dropped their FY2026 EPS estimates for shares of First Majestic Silver in a research report issued on Wednesday, November 11th. Scotiabank analyst E. Winmill now expects that the mining company will earn $0.65 per share for the year, down from their previous forecast of $0.69. The consensus estimate for First Majestic Silver's current full-year earnings is $0.80 per share. Scotiabank also issued estimates for First Majestic Silver's FY2027 earnings at $0.87 EPS.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly earnings results on Thursday, November 5th. The mining company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The business had revenue of $394.10 million during the quarter, compared to analyst estimates of $390.00 million. First Majestic Silver had a net margin of 22.58% and a return on equity of 14.72%.

AG has been the topic of several other research reports. Wall Street Zen cut First Majestic Silver from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Weiss Ratings raised First Majestic Silver from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday. Zacks Research cut First Majestic Silver from a "hold" rating to a "strong sell" rating in a research note on Monday, October 19th. Finally, HC Wainwright decreased their price objective on First Majestic Silver from $25.50 to $25.00 and set a "buy" rating for the company in a research note on Friday, November 6th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $23.75.

First Majestic Silver Stock Down 5.1%

First Majestic Silver stock opened at $14.01 on Friday. The business has a fifty day moving average of $17.17 and a two-hundred day moving average of $19.68. The company has a quick ratio of 2.33, a current ratio of 2.51 and a debt-to-equity ratio of 0.08. The firm has a market cap of $6.91 billion, a P/E ratio of 14.62 and a beta of 0.98. First Majestic Silver has a twelve month low of $10.72 and a twelve month high of $32.03.

First Majestic Silver Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be given a dividend of $0.0142 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.06 annualized dividend and a yield of 0.4%. This is a drop from First Majestic Silver's previous quarterly dividend of $0.0152. First Majestic Silver's payout ratio is presently 7.50%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. M Holdings Securities Inc. lifted its stake in shares of First Majestic Silver by 3.1% during the second quarter. M Holdings Securities Inc. now owns 16,960 shares of the mining company's stock worth $285,000 after buying an additional 515 shares during the period. Parallel Advisors LLC increased its position in shares of First Majestic Silver by 36.4% in the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company's stock valued at $45,000 after acquiring an additional 560 shares during the period. Harbour Investments Inc. increased its position in shares of First Majestic Silver by 3.1% in the 3rd quarter. Harbour Investments Inc. now owns 28,472 shares of the mining company's stock valued at $504,000 after acquiring an additional 859 shares during the period. PNC Financial Services Group Inc. increased its position in shares of First Majestic Silver by 184.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company's stock valued at $32,000 after acquiring an additional 978 shares during the period. Finally, Moors & Cabot Inc. raised its stake in First Majestic Silver by 4.5% in the 3rd quarter. Moors & Cabot Inc. now owns 26,620 shares of the mining company's stock worth $471,000 after acquiring an additional 1,150 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company's stock.

First Majestic Silver Company Profile

First Majestic Silver Corp. is a Canadian mining company focused on exploring, developing and operating silver and gold mines. Its operations are primarily in Mexico, where it produces and sells silver and gold, along with other metals recovered as byproducts. The company's Mexican mine portfolio includes San Dimas, Santa Elena, La Encantada and Cerro Los Gatos. First Majestic added Cerro Los Gatos through its acquisition of Gatos Silver, completed in 2025. Founded in 2002, First Majestic is headquartered in Vancouver, British Columbia.

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